When it comes to spouses attempting to hide assets during divorce, this is no new phenomenon. People have attempted this as long as property division laws have remained in place.
However, with changing times come changing methods of hiding assets. These days, more people than ever have turned to the digital landscape when wanting to hide money from their spouses.
Why is digital currency used?
CNBC discusses the use of cryptocurrency and other forms of digital assets when hiding assets in divorce. Most people have turned to these forms of asset hiding due to the general public’s lack of awareness of them. On top of that, these forms of assets did not have tight regulation until recently, which allowed for people to hide a lot more than they would have through traditional means of deceit.
However, in recent years, more general interest has grown in cryptocurrency and digital assets in general. As more people start to look into bitcoin and other digital investments, the public also caught on to just how easy it is to hide money in a digital format.
Signs of asset hiding
The signs of digital asset hiding often mirror the signs of asset hiding in other forms, though. Pay attention to any sudden changes in a spouse’s spending habits, whether it means they have cut down drastically from what they normally spend or that they have increased their spending habits by a large margin.
Also, monitor any furtive behavior, especially if it is a departure from how a partner acted before. Suddenly refusing to allow a partner to look over receipts may not seem like a huge deal, but it could indicate that they have something to hide.